High demand drives diesel fuel price surge
SHERMAN, Texas (KTEN) — High gasoline prices aren't the only concern faced by motorists who need to fill up the tank.
There is now a nationwide shortage of diesel fuel. Inventory of the product is the lowest it has been since 1951.
Nationwide, the price for a gallon of diesel is $5.31, $1.68 higher than one year ago, according to the AAA Gas Prices website. In Oklahoma, the average diesel price per gallon is $4.91; in Texas, $4.74.
Brad Douglass, with Sherman-based fuel wholesaler Douglass Distributing, says Gulf Coast refineries are operating at 102 percent of rated capacity, and the U.S. cannot make any more refined fuels like diesel.
And it's the lower inventory that's driving prices higher.
"The solution is really more imports," Douglass said. "Right now, all those are going to Europe, trying to cover the shortage presented by the Russian-Ukraine war. If we can turn some of those tankers around, bring them back to the U.S., that will certainly help our shortage here."
Douglass adds that he has heard concerns from several customers, specifically farmers and construction crews.